Edelweiss Tokio Life Insurance has introduced new non-participating, non-linked life insurance policy, Edelweiss Tokio Life – Wealth Builder to offer both savings and protection to customers.
Designed to address the Wealth Accumulation need of a customer, the new plan guarantees all the benefits right at the beginning of the plan, with the policy term ranging from 10 to 30 years.
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Customers have the option of paying the premiums in monthly, semi annually or annual installments.
The new life cover also provides a ‘Guaranteed Loyalty Additions (GLA)’, with the amount of GLA depends on annualized premium, policy term, premium paying term, entry age and the gender of the assured.
The GLA accrued are payable on death of the insured or on maturity.
Edelweiss Tokio Life Insurance Company CEO Deepak Mittal was quoted by India Infoline News as saying that Edelweiss Tokio Life – Wealth Builder is a simplified plan specifically designed for individuals who believe in starting early to be able to reap the benefits in the later stages of life.
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By GlobalData"Our new plan is an ideal mix of long-term protection and savings along with the benefit of guaranteed lump sum payment to provide our customers financial security throughout the different stages in their lives," Mittal added.
